Speaking on Joy FM‘s Top Story, on Wednesday, Boateng indicated that whatever percentage PURC agrees on will be used to manage the prevailing situation.
“We will take it in our strides as to what will emerge, but we are aware that they will consider both the consumer’s and our interests. When they give us all, we will be happy. If not, we will not collapse. We will submit what they give us to other development partners. We will give it to the owner of the company, we will make our case and they will look at areas that we will need to address immediately,” he explained.
When asked why ECG would not prove its capability of reducing its debt to sales ratio by 20 percent before asking for more, William Boateng said:
“ECG has been providing the services already in the last 3 years.”
He said nearly $400 million have been invested, however, there is a limit “because we have to go to the financial institutions with our current statement and it is not good, that is why we are pleading for the PURC and customers to help us and invest into the system.”
The electricity provider is requesting an increase of 148% in tariffs. A proposal from the power distributor was submitted to the Public Utilities Regulatory Commission (PURC), adding, the adjustment will cover the period 2019 and 2022.
The proposal further noted an average increase of 7.6% in tariff over the next four years will cover Distribution Service Charges (DSC).